Aziz Kabbaj Acquires 22-Unit Lower East Side Multifamily For $6.35M

Aziz Kabbaj has purchased a 22-unit residential walkup building located at 191 Henry Street in Lower East Side, Manhattan, for $6.3 million from Velda Lee's Kyra Group Inc. The property is a multifamily asset with a total square footage of 9,810. Each unit has an average size of approximately 446 square feet. The purchase price per unit is $288,636, and the price per square foot is $647.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,350,000
• Units: 22
• Price per Unit: $288,636
• Square Footage: 9,810
• Price per Square Foot: $647
• Address: 191 Henry Street, Lower East Side, Manhattan
• Market: Lower East Side, Manhattan

Aziz Kabbaj acted as the buyer in this transaction, acquiring the property from Velda Lee's Kyra Group Inc. The sale of this multifamily asset took place on June 28, 2023. The transaction highlights Aziz Kabbaj's investment in the Lower East Side area of Manhattan, showcasing his interest in the local real estate market.